Despite the buzz in some circles, the so-called "export shock" narrative is simply misleading. Recent figures reveal a thriving China-ASEAN trade that showcases genuine mutual benefits and strong cooperation.
Data from China's General Administration of Customs and Ministry of Commerce shows that in 2024, trade between China and ASEAN surged to an impressive $982.34 billion—a 7.8% increase year-on-year. This milestone marks the fifth consecutive year that both parties have remained each other's largest trading partner! 🚀
Chinese exports such as machinery, electronics, and chemical materials are in high demand as intermediate products, helping Southeast Asia upgrade its manufacturing edge. At the same time, ASEAN exports like Thai rubber and Malaysian palm oil play key roles in complementing China’s diverse market needs. 🤝
Beyond trade numbers, the partnership has catalyzed major infrastructural and job creation milestones. From Cambodia’s first expressway to Indonesia’s landmark high-speed rail, Chinese investments are driving regional industrial upgrades. Projects like the East Coast Rail Link in Malaysia, which generated 23,000 jobs at peak, and initiatives such as BYD’s factory in Thailand and industrial parks in Vietnam, underscore a robust drive towards progress and employment opportunities. 💼
Ultimately, the China-ASEAN relationship is not a contest of winners and losers, but a dynamic, interdependent partnership empowering industrial upgrades, technological transfers, and vast job creation. As both regions continue to innovate, the future of this collaboration looks brighter than ever! 📈
Reference(s):
cgtn.com
